The phenomenon of the crypto industry in the modern world and its prospects

Cryptocurrency broke into the modern money market rapidly and gained high positions in the financial market. In many ways, this was facilitated by the popularity of the virtual world, in which many projects can be implemented, including the issuance of virtual currency. For the first time, the cryptocurrency phenomenon emerged relatively recently, in 2009 and already exists in all countries by now. Some countries do not recognize the official circulation of this digital currency, other countries have legalized its circulation. Popularity is largely due to the rapid increase in the price of one bitcoin, which makes it possible for individual specialists to conclude that a new competitor for fiat money has appeared. The article explains the concept of cryptocurrency, the basics of its circulation, lists the types of cryptocurrencies, assesses the current state of the Crypto currency market and attempts to give a perspective assessment of its development. Of course, opinions about the prospects for development are very ambiguous, some believe that this currency is the future and it will replace ordinary money, others believe experts believe that it will soon outlast itself, however, one cannot but note the increased interest in this currency market as a popular and potentially profitable one.